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Telefónica's profit falls 65.7% to 1,142 million

2020-02-20T15:45:16.402Z

Telefónica obtained a net profit of 1,142 million euros in 2019, 65.7% less than in 2018, mainly due to the provision of provisions applied by the S Plan



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Telefónica obtained a net profit of 1,142 million euros in 2019, 65.7% less than in 2018, mainly due to the provision of provisions applied by the Individual Suspension Plan (PSI) of employment, as reported today to the National Securities Market Commission (CNMV).

In the whole of the year, revenues decreased 0.6%, reaching 48,422 million euros, due to the decline in business in Latin America, and despite the growth in the markets of Spain, Germany and, above all, the United Kingdom .

The company reduced its net debt again, and did so for 11 consecutive quarters, leaving it at 37,744 million euros, 8.1% less than in 2018.

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